Meruelo Group announces delay in Trump Plaza acquisition

The Meruelo Group on Friday said that its $20 million purchase of the Trump Plaza Hotel and Casino in Atlantic City will be postponed after Trump Entertainment Resorts failed "to obtain a release of the mortgage held by their senior secured lender," investor Carl Icahn. Meruelo, which has acquired an option to buy the property from Trump Entertainment once the mortgage is satisfied, said it "remains fully committed to acquiring the Plaza, and [is] focused on becoming a part of the Atlantic City community."